Free NTAP GEX - Live NetApp Gamma Exposure
Free NTAP GEX maps modeled gamma exposure across NetApp options. Select expirations to compare the call wall, put wall, gamma flip, and strike-level exposure around technology demand, product cycles, capital spending, and company guidance.
How to use the NTAP GEX tool
Search NTAP
NTAP is already entered. Keep it or enter another ticker, then select Search.
Select expirations
Choose one or more expiration dates to include.
Generate GEX
Select Generate GEX to view the chart and key levels.
Run up to 3 free GEX calculations per day.
What is Gamma Exposure (GEX)?
Gamma Exposure represents the sensitivity of an option's delta to changes in the underlying price. Market makers hedge their gamma exposure, creating support/resistance at high GEX strikes.
Key Levels:
- Call Wall: Strike with highest positive GEX (resistance)
- Put Wall: Strike with the largest put GEX, shown as the deepest negative bar (support)
- Gamma Flip: Where total GEX changes from negative to positive
Positive GEX: Market makers sell into rallies, buy into dips (stabilizing).
Negative GEX: Market makers buy into rallies, sell into dips (amplifying moves).
Select a ticker and expiration date, then click Generate GEX to see the analysis
Key levels
NTAP GEX levels in detail
Data as of
Spot
$197.42
Call wall
$220
11.4% above spot
Put wall
$200
1.3% above spot
Gamma flip
$197.67
0.1% above spot
Net GEX
-$29
negative gamma
Largest gamma by strike
- $220 $853
- $200 -$738
- $240 $598
- $190 -$577
- $185 -$555
Since the previous session (Oct 29)
- Spot down 7.2% ($212.85 to $197.42)
- Call wall unchanged at $220
- Put wall unchanged at $200
- Net GEX $1K to -$29
Reviewed by the QuantWheel research team. Modeled from listed NTAP options data; not observed dealer inventory and not a forecast. Read how we compute NTAP GEX levels.
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Want to compare strikes across expirations? View the NTAP GEX heatmap.
Understanding NTAP gamma exposure
The NTAP options chain represents NetApp and its exposure to technology demand, product cycles, capital spending, and company guidance. Its GICS classification is Technology Hardware, Storage and Peripherals. Use the chart to identify where modeled exposure is concentrated and whether that concentration is consistent across expiration choices.
New to the concept? Start with our guides to gamma in options and the options Greeks.
NTAP GEX methodology and limitations
QuantWheel calculates NTAP GEX from the selected expirations, available options data and the formula displayed in the calculator. The result summarizes modeled gamma exposure by strike.
GEX is a model output, not observed dealer inventory or a price forecast. Open interest does not identify who owns an option, and the displayed call wall, put wall and gamma flip can change when the inputs or selected expirations change.
NTAP GEX FAQ
What is NTAP GEX?
NTAP GEX estimates gamma exposure across listed NTAP options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. NTAP GEX does not reveal actual dealer positions or predict where NTAP will trade.
How do I read the NTAP call wall and put wall?
QuantWheel labels the NTAP call wall as the strike with the largest positive modeled GEX and the NTAP put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the NTAP price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the NTAP gamma flip?
The NTAP gamma flip is the price where modeled net gamma crosses zero for the selected NTAP options data. Compare it with the current price and the shape of the strike chart. The NTAP gamma flip is a model output, not a trading signal.
Which expirations should I use for NTAP GEX?
Start with the nearest NTAP expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which NTAP contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the NTAP GEX calculator free?
Yes. You can run up to three free NTAP GEX calculations per day on the public tool. After using those calculations, continue for free in the GEX demo. Check the current QuantWheel pricing page for plan access details.